Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Up 5.9% – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price was up 5.9% on Tuesday . The stock traded as high as $18.15 and last traded at $17.70. Approximately 140,385 shares changed hands during trading, a decline of 7% from the average daily volume of 150,882 shares. The stock had previously closed at $16.7130.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSNY. Wall Street Zen downgraded shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Zacks Research downgraded Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Down 14.9%

The stock has a fifty day moving average of $22.23 and a 200 day moving average of $28.66.

Polestar Automotive Holding UK shares are going to reverse split before the market opens on Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in Polestar Automotive Holding UK by 45.0% during the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after buying an additional 14,877 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Polestar Automotive Holding UK by 26.7% in the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after buying an additional 17,590 shares during the period. Captrust Financial Advisors increased its stake in shares of Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after acquiring an additional 17,700 shares in the last quarter. Rathbones Group PLC raised its stake in Polestar Automotive Holding UK by 79.1% during the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after buying an additional 20,000 shares during the period. Finally, SCS Capital Management LLC bought a new stake in shares of Polestar Automotive Holding UK during the first quarter worth about $43,000. 1.02% of the stock is currently owned by institutional investors.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.